Section 7. Any owner or operator of a site or vessel, and any person otherwise described in paragraph (a) of section 5, and any fiduciary, city, town, redevelopment authority, redevelopment agency, community development corporation, economic development and industrial corporation or secured lender who holds title to or possession of a site or vessel and any eligible tenant who acquires occupancy or possession of a site or a portion thereof, as soon as he has knowledge of a release or threat of release of oil or hazardous material, shall immediately notify the department thereof. Such notice shall not be required hereunder for any release which conforms to the terms of a currently valid permit or license issued by the department. Such notice shall not be required hereunder for the application of a pesticide product registered under the Federal Insecticide, Fungicide, and Rodenticide Act 7 USC Sec. 136 et seq., and under the provisions of chapter one hundred and thirty-two B, or to the handling and storage of such a pesticide product by an agricultural producer.

By no later than July first, nineteen hundred and ninety-three, the department shall promulgate in accordance with section two of chapter thirty A, and shall submit to the state secretary for publication in the Massachusetts Register in accordance with sections five and six of chapter thirty A, regulations establishing thresholds below which notification shall not be required by this section, and procedures for giving notification required pursuant to this section. By no later than January first, nineteen hundred and ninety-three, the department shall submit to the state secretary for publication in the Massachusetts Register, and the state secretary shall publish in the Massachusetts Register, in accordance with sections five and six of chapter thirty A, the notice required by section two of chapter thirty A and a draft of the regulations described in the preceding sentence. After the initial promulgation of regulations required by this section, the department may amend or repeal them, or adopt additional ones, in accordance with all applicable requirements of chapter thirty A.